Investor Lists

Cybersecurity investors in the Nordics

Updated 7 November 2026

Firms observed backing a cybersecurity company in the Nordics in the last two years, wherever the firm is based.

See all 22 →The top 22
22investors on the list+1 this week
183cheques in 12 months+14% against the market
$3.1Mmedian round they joined-61% against the market median
100%wrote a cheque in 12 months
41%have led a round

The Top 22

Ordered by cheques observed, never by anything anyone paid for

Deploying now (22)

  1. 1Seed CapitalDeploying nowVC firm · Denmark347$4Mmedian roundSept 2026last seen
  2. 2StingDeploying nowVC firm · United States219$1.5Mmedian roundSept 2026last seen
  3. 3Business FinlandDeploying nowAccelerator · Finland153$2.3Mmedian roundSept 2026last seen
  4. 4Export and Investment FundDeploying nowVC firm94$3.2Mmedian roundSept 2026last seen
  5. 5FUSEDeploying nowVC firm · United States81$6Mmedian roundOct 2026last seen
  6. 6Propel CapitalDeploying nowAccelerator · Sweden52$996Kmedian roundSept 2026last seen
  7. 7Spintop VenturesDeploying nowVC firm · Sweden50$2.6Mmedian roundOct 2026last seen
  8. 8Norrsken EvolveDeploying nowVC firm · Sweden40$1.9Mmedian roundOct 2026last seen
  9. 9Vendep CapitalDeploying nowVC firm · Finland33$3.1Mmedian roundNov 2026last seen
  10. 10TesiDeploying nowGovernment · Finland29$17Mmedian roundSept 2026last seen
  11. 11NokiaDeploying nowCorporate VC · Finland21$433Mmedian roundJun 2026last seen
  12. 12NATO Innovation Fund (NIF)Deploying nowVC firm · Netherlands16$17Mmedian roundSept 2026last seen
  13. 13EIFO (Denmark)Deploying nowGovernment · Denmark13$16Mmedian roundOct 2026last seen
  14. 14Ugly Duckling VenturesDeploying nowVC firm · Denmark3$5.8Mmedian roundSept 2026last seen
  15. 15Foundry venturesDeploying nowVC firm · Sweden1$615Kmedian roundSept 2026last seen
  16. 16Longswan VenturesDeploying nowVC firm1$615Kmedian roundSept 2026last seen
  17. 17ReykVCDeploying nowVC firm · Iceland1$6.9Mmedian roundSept 2026last seen
  18. 18Unconventional VenturesDeploying nowVC firm · Denmark1$3.1Mmedian roundNov 2026last seen
  19. 19Jan OberhauserDeploying nowAngel1$5.8Mmedian roundAug 2026last seen
  20. 20Saminvest AB via AnnexstrukturDeploying nowVC firm1$615Kmedian roundSept 2026last seen
  21. 21Schyssta ÄnglarDeploying nowVC firm1$615Kmedian roundSept 2026last seen
  22. 22Thomas VistiDeploying nowAngel1$5.8Mmedian roundAug 2026last seen

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Quick answers about cybersecurity investors in the Nordics

Who are the most active cybersecurity investors in the Nordics?

By cheques observed, the most active are Seed Capital, Sting, Business Finland, Export and Investment Fund and FUSE.

How many cybersecurity investors in the Nordics are there?

22 are on record. 100% made an investment in the last 12 months and 41% have led a round.

Which stages do cybersecurity investors in the Nordics back?

Of the rounds with a named stage in the last 12 months, mostly Seed (36%) and Pre-seed (24%).

How big are the rounds cybersecurity investors in the Nordics join?

The typical (median) round among the leading investors here is $3.2M.

Which sectors do cybersecurity investors in the Nordics back most?

In the last 12 months, mostly AI, Biotech and Healthcare.

Which cybersecurity investors in the Nordics lead the most rounds?

NATO Innovation Fund (NIF) (10 led), Spintop Ventures (5 led) and Vendep Capital (3 led).

Where are cybersecurity investors in the Nordics based?

Among the most active, most are based in Denmark (4), Finland (4) and Sweden (4).

What have cybersecurity investors in the Nordics invested in recently?

Recent rounds include Claimlane (Series A, Nov 2026, with Vendep Capital), Pixel Systems (Seed, Nov 2026, with Unconventional Ventures) and Cortas (Pre-seed, Oct 2026, with EIFO (Denmark)).

Built from the rounds we watched, refreshed every night. How we count · Report a correction